• AUT FMA imposed a €120,000 fine on Global Alpha Capital Management Limited for late substantial shareholding notification.

Main Points

• Imposition of a fine of €120,000 for late substantial shareholding notification of exceeding the 5% limit for shareholdings in an issuer's shares, by way of expedited termination of proceedings pursuant to section 22, paragraph 2b of the Financial Market Authority Act (FMABG).
• Failure to notify, in a timely manner, the issuer of the exceeding substantial shareholding limit.
• The disclosure of shareholdings under s 130 et seq. of the Austrian Stock Exchange Act 2018 is intended to inform the market about the issuer's shareholding structure.

Effectiveness

• The penalty order is final and binding.